Indian banks are waking up to a new kind of cyber attack. Hackers recently infiltrated the systems of three government-owned banks - two head headquartered in Mumbai and one in Kolkata - to create fake trade documents that may have been used to raise finance abroad or facilitate dealings in banned items. The banks in question discovered that their SWIFT systems - the global financial messaging service banks use to move millions of dollars and documents across borders every day - have been compromised to create fake documents. The banks are still unsure about the origin of the attack and the intention of the hackers. It's learnt that soon after the breaches were reported to the Reserve Bank of India, the regulator last month directed several banks to cross-check all trade documents issued over the past one year.
Source: www.cyware.com
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